Recession fears stoked on day three of America’s port strike
Like in the covid era, panicked shoppers in the US have been seen scrambling to stock up on essential items such as bottled water and toilet paper as the strike across America’s eastern seaboard enters its third day with experts now suggesting the industrial action could last weeks rather than days. Around 45,000 dockworkers at […]
Sớm xây dựng siêu cảng Cần Giờ
Phó thủ tướng Trần Hồng Hà vừa có văn bản giao nhiệm vụ cho các cơ quan liên quan đối với Đề án nghiên cứu xây dựng cảng trung chuyển quốc tế Cần Giờ. Văn bản nêu rõ: Đề án đã được UBND TP.HCM tổ chức nghiên cứu bài bản, kỹ lưỡng để phục vụ […]
Port of Vancouver nears 2 million TEUs in 2024 H1
Port of Vancouver, Canada’s largest port, facilitates the trade of around US$220 billion-worth of goods annually with up to 170 countries. In the first half of 2024, container volumes at the port largely rebounded and stabilized after several challenging years marked by a pandemic-driven surge in consumer demand and multiple supply chain disruptions. Vancouver’s box traffic […]
Konecranes refreshes Leadership Team; restructures operating mode
Konecranes has decided to revise its operating model to support the deployment of its strategy and growth objectives, while also updating the Leadership Team. Starting 1 January 2025, the company will be organized into three Business Areas: Industrial Service, Industrial Equipment, and Port Solutions. This is a change from the current structure of two Business […]
Dark fleet spills proliferate
Regulators around the world worried about the risks posed by the so-called dark fleet of tankers have seen ample evidence of how shady operations lead to environmental damage. The latest example, as highlighted by TankerTrackers.com, shows a messy ship-to-ship transfer in the Persian Gulf. TankerTrackers.com, one of the world’s leading watchers of illicit cargo movement, […]
Lim family to file for bankruptcy after $3.5bn settlement in Hin Leong liquidation case
Lim Oon Kuin, the founder of the defunct Singapore oil trader Hin Leong, and his two children have agreed to pay about $3.5bn (S$4.5bn) to the liquidators of the company and top creditor HSBC. The 82-year-old former oil trading and tanker tycoon, better known as OK Lim, together with Huey Ching Lim and Evan Lim […]
OFAC adds Marshall Islands tanker company to its sanctions list
The Office of Foreign Assets Control (OFAC) in Washington DC has slapped sanctions on a tanker owner and two of its ships over alleged shipments of Russian and Iranian oil. The Marshall Islands-registered company Gemini Marine becomes the latest shipping entity in a rapid series of sanctions being dished out by the US Treasury. Two […]
Chinese player rapidly builds up vintage cape arm
Zhangjiagang Oceanicwit Shipping is on a relentless shopping spree, showing no signs of slowing down. Within weeks, the Chinese bulker operator, with over 20 vessels in its fleet, has secured two more ageing capesize vessels from prominent Greek sellers. Splash can reveal that at the end of August, it acquired the 18-year-old Maran Prosperity from Maran Dry, […]
NYK pockets profit from sale of 25-year-old cape
NYK Bulkship Korea, which is a part of the larger Nippon Yusen Kaisha (NYK) empire, has cashed in close to $12m for the 25-year-old, 173,000 dwt rusty workhorse, Oriental Navigator, a ship sold for further trading to undisclosed Chinese buyers. The dented trader has served NYK well. It was added as Stellar Navigator in 2016 […]
Scorpio Tankers confirms sale of modern LR2
Monaco-headquartered product carrier major Scorpio Tankers has confirmed the sale of its five-year-old LR2 vessel in a deal worth $73.5m. Splash reported last month that the Emanuele Lauro-led firm had offloaded the 109,000 dwt scrubber-fitted STI Lily in a deal with Indonesia’s state-owned shipping giant, Pertamina. New York-listed Scorpio did not reveal the buyer but […]